e.l.f. Beauty (NYSE:ELF) Downgraded to Hold at Jefferies Financial Group

Jefferies Financial Group lowered shares of e.l.f. Beauty (NYSE:ELF) from a buy rating to a hold rating in a report issued on Wednesday morning, Briefing.com Automated Import reports. Jefferies Financial Group currently has $20.00 price objective on the stock, down from their prior price objective of $20.50. Jefferies Financial Group also issued estimates for e.l.f. Beauty’s Q3 2020 earnings at $0.09 EPS, Q4 2020 earnings at ($0.01) EPS, FY2020 earnings at $0.26 EPS, Q2 2021 earnings at $0.07 EPS and FY2021 earnings at $0.38 EPS. The analysts noted that the move was a valuation call.

ELF has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on e.l.f. Beauty from $21.00 to $22.00 and gave the stock an overweight rating in a research note on Thursday, November 7th. DA Davidson set a $21.00 price target on e.l.f. Beauty and gave the stock a buy rating in a research note on Thursday, August 22nd. Morgan Stanley lifted their price target on e.l.f. Beauty from $17.50 to $19.00 and gave the stock an equal weight rating in a research note on Tuesday, October 8th. Oppenheimer restated a hold rating on shares of e.l.f. Beauty in a research note on Friday, September 6th. Finally, Piper Jaffray Companies lifted their target price on e.l.f. Beauty from $18.00 to $19.00 and gave the company a neutral rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. e.l.f. Beauty has an average rating of Hold and an average target price of $17.73.

NYSE:ELF traded down $0.01 during mid-day trading on Wednesday, reaching $16.38. The stock had a trading volume of 641,121 shares, compared to its average volume of 624,480. The company has a market capitalization of $819.49 million, a price-to-earnings ratio of 37.23, a price-to-earnings-growth ratio of 16.02 and a beta of 2.35. e.l.f. Beauty has a 1-year low of $6.70 and a 1-year high of $19.96. The stock’s 50 day simple moving average is $17.39 and its two-hundred day simple moving average is $15.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.12 and a quick ratio of 2.03.

e.l.f. Beauty (NYSE:ELF) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.11. The business had revenue of $67.60 million during the quarter, compared to the consensus estimate of $61.07 million. e.l.f. Beauty had a return on equity of 8.09% and a net margin of 0.73%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. Sell-side analysts anticipate that e.l.f. Beauty will post 0.27 EPS for the current fiscal year.

In other e.l.f. Beauty news, CEO Tarang Amin sold 6,723 shares of e.l.f. Beauty stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $16.01, for a total value of $107,635.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 4,500 shares of e.l.f. Beauty stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $77.53, for a total value of $348,885.00. Over the last 90 days, insiders sold 3,583,382 shares of company stock valued at $60,552,600. 17.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ELF. Nuveen Asset Management LLC acquired a new position in shares of e.l.f. Beauty during the second quarter worth approximately $8,733,000. Marshall Wace North America L.P. boosted its position in shares of e.l.f. Beauty by 1,577.8% during the second quarter. Marshall Wace North America L.P. now owns 628,389 shares of the company’s stock worth $8,860,000 after buying an additional 590,936 shares during the period. Cramer Rosenthal Mcglynn LLC acquired a new position in shares of e.l.f. Beauty during the second quarter worth approximately $8,151,000. D. E. Shaw & Co. Inc. boosted its position in shares of e.l.f. Beauty by 73.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 699,348 shares of the company’s stock worth $9,861,000 after buying an additional 297,267 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of e.l.f. Beauty by 479.3% during the second quarter. Renaissance Technologies LLC now owns 308,700 shares of the company’s stock worth $4,353,000 after buying an additional 255,413 shares during the period. Institutional investors and hedge funds own 85.24% of the company’s stock.

About e.l.f. Beauty

e.l.f. Beauty, Inc, a beauty company, provides cosmetic and skin care products under the e.l.f. brand name worldwide. The company offers eye, lip, face, and skin care products, as well as kits and tools. It sells its products through national and international retailers and direct-to-consumer channels, which include e-commerce and e.l.f.

Further Reading: Dividend Reinvestment Plan (DRIP)

Analyst Recommendations for e.l.f. Beauty (NYSE:ELF)

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